WATPAC SECURES $50M GOVERNMENT DEAL

Written on the 30 March 2015

WATPAC SECURES $50M GOVERNMENT DEAL

WATPAC Limited (ASX:WTP) has finalised a $50 million contract with state government, for the managing services of the new Queensland State Velodrome in Brisbane.

The construction firm has been working with Queensland Government the past few months to reach an agreement for the stage two delivery of the project.

Stage one commenced in October last year, including finalising design details and early preparation works at the Sleeman Sports Complex in Chandler.

Watpac managing director Martin Monro says the deal was a major coup for the company.

"Watpac is proud to be building this world class facility which will be used by some of the world's leading cyclists," Monro says.

"The team has made great progress on site and we look forward to continuing our work with the Queensland Government to deliver this exciting piece of sporting infrastructure."

The new velodrome will feature a world-class timber track and streamlined roof design to combat weather conditions of the existing outdoor facility, which was built for the 1982 Brisbane Commonwealth Games.

The design concept includes mixed use sport courts, function spaces and a café.

"Watpac has a strong reputation for delivering high quality sport facilities across Australia and we are pleased to be continuing this tradition with a venue which will become an important legacy for the Queensland cycling community," Monro says.

Construction on the new velodrome is expected to be completed in mid-2016.


Latest News

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

EAST COAST PROPERTY BOOM BUILDS PROFITS FOR BRICKWORKS

AUSTRALIA'S residential property boom has helped drive a sharp rise in first half earnings for Brickworks (ASX: B...

COLLINS SUPERSIZES IN EUROPE WITH PURCHASE OF 16 KFC RESTAURANTS IN THE NETHERLANDS

COLLINS Foods (ASX:CKF) has stepped up its European expansion through the purchase of 16 KFC restaurants in the Ne...

CSIRO HELPS DEVELOP AUSTRALIAN PHARMA COMPANY FROM $10 MILLION TO $305 MILLION

GOVERNMENT backed scientists have helped multiply the market value of a previously small Australian pharmaceutical...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter